Bloomberg Senior ETF Analyst Eric Balchunas tweeted this morning, revealing that the U.S. Securities and Exchange Commission (SEC) could potentially approve the first Ethereum spot ETF’s 19b-4 filing by 4:00 am on Friday, May 24th, Taiwan time.
(Previous Summary: Strong! Ethereum fluctuates above $3,700, how do institutions and analysts predict its future?)
(Background Supplement: What is an Ethereum spot ETF? Differences from futures, investment methods, advantages and disadvantages, issuance methods… complete analysis)
Renowned Bloomberg Senior ETF Analyst Eric Balchunas stated this morning that we could potentially see the approval of the first Ethereum spot ETF’s 19b-4 filing by 4:00 pm on May 23rd, Eastern Standard Time (EST), which is 4:00 am on Friday, May 24th, Taiwan time. The U.S. Securities and Exchange Commission (SEC) would be responsible for approving the filing, which is a change in exchange rules.
In his tweet, he wrote:
Balchunas’ prediction has garnered significant attention due to his previous successful predictions of the approval timelines for Bitcoin futures and spot ETFs. Another Bloomberg ETF analyst, James Seyffart, stated that he is “almost certain” that the SEC will officially approve the 19b-4 filing by 6:00 pm Eastern Standard Time tomorrow (6:00 am on Friday, Taiwan time).
Source: Eric Balchunas Twitter
Fox reporter: SEC will approve the 19b-4 filing for Ethereum spot ETF tomorrow
Fox Business reporter Eleanor Terrett also believes that the SEC is likely to approve the 19b-4 filing tomorrow, local time. Earlier today, she tweeted:
It is worth noting that Terrett leaked last night that she heard the SEC has begun discussions regarding S-1, but the conclusion reached by SEC staff and issuers is that there is still work to be done on these issues.
Nate Geraci, the President of ETFStore, stated on Monday that the SEC may approve the 19b-4 filing but slow down the execution speed of S-1. It may still take several weeks to months before we see the approval of S-1 and the official listing of the Ethereum spot ETF.
Source: @EleanorTerrett Twitter
Ethereum continues to fluctuate in the $3,700 range
This week, the SEC’s position on approving Ethereum spot ETFs dramatically changed. VanEck and Franklin’s Ethereum spot ETFs have been listed on the Depository Trust & Clearing Corporation (DTCC), significantly increasing market expectations for the approval of Ethereum spot ETFs. This also caused the price of ETH to jump over 23% from $3,110 to $3,841 on the 21st.
This morning, with the positive news that the SEC is expected to approve the Ethereum spot ETF’s 19b-4 filing tomorrow, ETH reached a high of nearly $3,780, reporting at $3,762 before the drafting of this article.
Source: Trading View
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